Market Trends of Rubber Process Oils Industry
This section covers the major market trends shaping the Rubber Process Oils Market according to our research experts:
Growing Demand of Rubber Process Oil from Rubber Processing
- Rubber Process Oils are used during mixing of rubber compounds and these help in improving the dispersion of fillers and flow characteristics of the compound during further processing.
- Rubber Process Oils are customised to specific requirements of various rubber products with respect to viscosity and aniline point, and are reputed for their consistent quality and prompt delivery schedules.
- Rubber process oil are used in rubber industries form raw material stage to finished products such as tyres, tube, battery cases, foot ware, mats, hoses.
- Growing usage of rubbers made products from industrial and automotive sector in developing economies is likely to boost the demand for rubber process oil in rubber processing.
- Hence, owing to the above-mentioned factors, the application of rubber process oil from rubber processing is likely to dominate during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for rubber process oil during the forecast period. The rising demand of rubber process oil from rubber processing and growing application in automotive sector in developing countries like China, Japan and India is expected to drive the demand for rubber process oil in this region.
- The largest producers of rubber process oil are located in Asia-Pacific region. Some of the leading companies in the production of rubber process oil are Total, Chevron Intellectual Property LLC, Panama Petrochem Ltd, ORGKHIM Biochemical Holding, and Eagle Petrochem among others.
- Being a developing country, rapid industrialization is taking place in China, which has, in turn, led to a huge demand for rubber made products in various end-user industries.
- China was the world’s largest importer of rubber and the largest consumer of rubber, consuming around 40% of the total global output. India is currently the sixth largest producer of rubber in the world with one of the highest productivity .
- Owing to the above-mentioned factors, the market for rubber process oil in the Asia-Pacific region is projected to grow significantly during the study period.
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